Multiple Choice
Identify the
choice that best completes the statement or answers the question.
|
|
|
1.
|
_______________data is typically collected for the
first time from surveys.
a. | Supply | c. | Secondary | b. | Demand | d. | Primary |
|
|
|
2.
|
________________ pricing refers to price
adjustments made based on a customer’s location.
a. | Psychological | c. | Geographical | b. | Bundle | d. | Promotional |
|
|
|
3.
|
____________________________ obtain goods from the
manufacturer and resell them to an industrial user.
a. | Retailers | c. | Consumers | b. | Wholesalers | d. | none of the avove |
|
|
|
4.
|
Which of the following is NOT a way to generate
demand for a product or service?
a. | running sales and promotions | c. | raising prices | b. | extending the
product line | d. | creating or improving the product |
|
|
|
5.
|
_________________________ pricing offers
complimentary products in a package which is sold at a single rate.
a. | Psychological | c. | Special event | b. | Bundle | d. | Geographical |
|
|
|
6.
|
___________________ is an organizational function
and a set of purposes for creating, communicating, and delivering value to customers along with
managing customer relationships.
a. | Management | c. | Economics | b. | Marketing | d. | Entrepreneurship |
|
|
|
7.
|
______________ refers to the amount of goods a
customer is willing and able to buy.
a. | Demand | c. | Product | b. | Promotion | d. | Supply |
|
|
|
8.
|
________________ is often a direct response to
company costs and expenses.
a. | Product | c. | Production | b. | Price | d. | Place |
|
|
|
9.
|
________________-oriented pricing is used to price
products above, below or at the same level as the competition.
a. | Cost | c. | Demand | b. | Competition | d. | none of the above |
|
|
|
10.
|
What type of pricing allows customers to pay
different rates for similar products by permitting customers to negotiate or bargain?
a. | flexible | c. | odd-even | b. | psychological | d. | one price |
|
|
|
11.
|
What type of advertising lists a product as
“cheap” to bring the customer into the establishmnet and then switches to selling the
customer an “expensive” product?
a. | price fixing | c. | psychological pricing | b. | price
lining | d. | bait-and-switch |
|
|
|
12.
|
What type of pricing policy requires all customers
to pay the same amount for the same product?
a. | flexible | c. | odd-even | b. | psychological | d. | one price |
|
|
|
13.
|
Which of the following is NOT a step in determining
price?
a. | ignoring demand | c. | studyimg competition | b. | setting a price
point | d. | determining costs |
|
|
|
14.
|
______________ refers to the amount of goods a
producer is willing to make and sell.
a. | Demand | c. | Product | b. | Promotion | d. | Supply |
|
|
|
15.
|
Which of the following is NOT a goal of
pricing?
a. | To earn a profit | c. | To
“beat” the competition | b. | To lose profit
share | d. | To attract more customers |
|
|
|
16.
|
Which function of marketing makes goods and
services available in the right quantities and locations when customers want them?
a. | financial analysis | c. | distribution | b. | selling | d. | product and service
management |
|
|
|
17.
|
When doing marketing research, what is the first
step?
a. | propose a solution | c. | develop a data collection procedure | b. | define the marketing problem | d. | gather and analyze
information |
|
|
|
18.
|
____________________________ obtain goods from the
manufacturer or wholesaler to sell to the final customer for personal use.
a. | Retailers | c. | Consumers | b. | Wholesalers | d. | none of the avove |
|
|
|
19.
|
______________________ discounts offer a buyer an
additional incentive for paying bills in a prompt manner.
a. | Cash | c. | Employee | b. | Quantity | d. | Seasonal |
|
|
|
20.
|
__________________discounts offer a reduced rate
for placing a large order.
a. | Cash | c. | Employee | b. | Quantity | d. | Seasonal |
|
|
|
21.
|
_________________________ pricing is usually
associated with specific events or holidays.
a. | Psychological | c. | Special event | b. | Bundle | d. | Geographical |
|
Completion
Complete each
statement.
|
|
|
22.
|
The 4 P’s of Marketing are: _______________, ______________, ____________,
__________
|